AgriNovus Indiana

It’s May in Indiana and major headlines abound as The Greatest Spectacle in Racing coupled with the Global Economic Summit (GES) put the state on the world’s stage – for racing spectators and innovators alike. Today, Mitch Frazier and Cayla Chiddister recap the month including major news in the agbiosciences from Elanco, Purdue, Elevate Ventures and Traction Ag. &nbsp; Elanco and Purdue announced a OneHealth Innovation District as part of the company’s new campus west of downtown Indianapolis. The facility is designed to deliver and scale up innovation where industry and academia can collaborate including office, wet lab and incubator space. Elanco plans to also contribute up to $2M of initial funding to jumpstart a new Animal Health Ventures Fund to support early-stage innovators, in close coordination with the Indiana Economic Development Corporation (IEDC), to take advantage of available tools and programs that support startup activity in this space.&nbsp; From GES it was also announced that Elevate Ventures will launch a new $100M fund focused on cross-sector innovation driven growth stage companies with a $500M total addressable market (TAM) or greater. The fund will commence formation in late Q2 with targets to make first investments in 2025.&nbsp;Traction Ag also announced a $10M Series A round led by Cooperative Ventures and joined by Plymouth Growth and existing investors. The investment was designed to support platform development and business growth.&nbsp;

It’s May in Indiana and major headlines abound as The Greatest Spectacle in Racing coupled with the Global Economic Summit (GES) put the state on the world’s stage – for racing spectators and innovators alike. Today, Mitch Frazier and Cayla Chiddister recap the month including major news in the agbiosciences from Elanco, Purdue, Elevate Ventures and Traction Ag.  

Elanco and Purdue announced a OneHealth Innovation District as part of the company’s new campus west of downtown Indianapolis. The facility is designed to deliver and scale up innovation where industry and academia can collaborate including office, wet lab and incubator space. Elanco plans to also contribute up to $2M of initial funding to jumpstart a new Animal Health Ventures Fund to support early-stage innovators, in close coordination with the Indiana Economic Development Corporation (IEDC), to take advantage of available tools and programs that support startup activity in this space. 

From GES it was also announced that Elevate Ventures will launch a new $100M fund focused on cross-sector innovation driven growth stage companies with a $500M total addressable market (TAM) or greater. The fund will commence formation in late Q2 with targets to make first investments in 2025. 

Traction Ag also announced a $10M Series A round led by Cooperative Ventures and joined by Plymouth Growth and existing investors. The investment was designed to support platform development and business growth. 

302. Mitch Frazier on Elanco + Purdue defining a new era of OneHealth, new funds launched and Traction Ag on the move

This weekly podcast dives into agbioscience, where agriculture, life sciences and cutting-edge technology converge. Agbioscience is an in-depth conversation with leaders and entrepreneurs across food, animal health, plant science and agtech. This one-of-a-kind podcast offers updates on the latest advancements and future trends from those at the forefront of agbioscience innovation.

﻿Global market intelligence firm, IDC, estimates that artificial intelligence (AI) will contribute nearly $20 trillion to the global economy by 2030 and represent nearly 4% of global GDP. Today we are joined by an AI pioneer, tech diplomat and leader of Purdue University, President Mung Chiang. We discuss:&nbsp;&nbsp;<ul><li>His journey as a three-time entrepreneur turned university president and how his experience has shaped his approach at Purdue&nbsp;</li><li>Being on the cusps of the AI revolution, bringing new jobs to market and its elimination of old ones – and its potential to transform the physical world&nbsp;</li><li>Balancing AI’s opportunity for productivity versus its potential to become an adversarial threat&nbsp;&nbsp;</li><li>Connecting dots from the past to the future to develop job creation and prosperity in the state – and the critical role of agbioscience to make that happen&nbsp;</li><li>Purdue has a top 5 college of engineering and a top 5 college of agriculture – and President Chiang talks about the university’s differentiation to drive big outcomes using demand-driven education&nbsp;</li><li>&nbsp;President Chiang’s eye on the future of Purdue and its continued service to Indiana&nbsp;&nbsp;&nbsp;</li></ul>